Ahmed Recently Completed a Ten-Week Internship at a Local CPA

question 27

Multiple Choice

Ahmed recently completed a ten-week internship at a local CPA firm; as part of his internship, he did a public records search to assist in a fraud investigation. He wrote about the experience in his internship journal. Should Ahmed's internship journal be used as a source of information for a class research paper on fraud investigation?

• A)No. It was not published in a practitioner or scholarly journal.
• B)No. Ahmed does not have sufficient authority.
• C)Yes. Since the internship was recent, the journal provides current information.
• D)Only if Ahmed accurately and objectively describes exactly how he completed the public records search.

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Definitions:

Future Value Factor

A factor used in time value of money calculations that determines the future value of a present sum of money or a series of payments, accounting for compounding interest.

Reciprocals

The mathematical result of dividing 1 by a given number; a reciprocal of a fraction is its inverse.

Present Value

The current valuation of money to be received in the future or ongoing cash flows, based on a predetermined return rate.

Future Value

The value of an investment or sum at a specific future date, accounting for factors like interest rates or dividends.